Welcome to our dedicated page for Delek Logistics Partners Lp news (Ticker: DKL), a resource for investors and traders seeking the latest updates and insights on Delek Logistics Partners Lp stock.
News for Delek Logistics Partners, LP (NYSE: DKL) focuses on its role as a midstream energy master limited partnership headquartered in Brentwood, Tennessee. The partnership owns and operates logistics and infrastructure assets that provide gathering, pipeline and other transportation services for crude oil and natural gas customers, storage, wholesale marketing and terminalling services for intermediate and refined product customers, and water disposal and recycling services, primarily in and around the Permian Basin, the Delaware Basin and select Gulf Coast areas.
DKL news coverage frequently highlights quarterly financial results, including net income, EBITDA, Adjusted EBITDA and distributable cash flow, as well as updated Adjusted EBITDA guidance. Press releases discuss performance by segment, such as gathering and processing, wholesale marketing and terminalling, storage and transportation, and investments in pipeline joint ventures. They also describe the impact of acquisitions, dropdown transactions and changes in commercial agreements on segment results.
Investors following DKL can expect updates on capital projects and operational milestones, such as the completion of the Libby 2 gas processing plant, crude and water gathering projects, and the development of sour gas gathering and acid gas injection capabilities at the Libby Complex. News items also cover liquidity and financing actions, including debt offerings like the 7.375% senior notes due 2033 and borrowing capacity under the partnership’s revolving credit facility.
Another recurring theme in Delek Logistics news is the declaration of quarterly cash distributions on common limited partner units, with details on distribution amounts, record dates and payment dates. Because Delek US Holdings, Inc. owns the general partner interest and a majority limited partner interest in DKL and is a significant customer, Delek US earnings releases often reference DKL’s performance and guidance as part of the logistics segment. Readers interested in DKL’s financial and operational developments can use this news page to monitor earnings releases, distribution announcements, financing transactions and project updates.
Delek US reported second quarter 2020 financial results, showing a net income of $87.7 million or $1.18 per diluted share, up from $77.3 million or $1.00 per diluted share year-over-year. However, adjusted net loss reached $110.5 million, reflecting significant losses from inventory impacts and hedging. The refining segment faced a decline in contribution margin to $59.7 million from $198.1 million, largely due to lower demand amid COVID-19. The company declared a quarterly dividend of $0.31 per share and reported a cash balance of $849 million as of June 30, 2020.
Delek Logistics Partners reported a net income of $44.4 million for Q2 2020, significantly up from $24.9 million in Q2 2019. EBITDA increased to $64.8 million, reflecting a 45% year-over-year rise. The decline in revenue to $117.6 million was primarily due to lower commodity prices. However, distributable cash flow surged to $57.0 million, a 82% increase compared to the previous year. A quarterly cash distribution of $0.90 per common limited partner unit was declared, marking a 5.9% increase from last year. The leverage ratio remains below 4.1x, indicating strong financial health.
Delek Logistics Partners (NYSE: DKL) will announce its second quarter 2020 results on August 4, 2020, after market close. A conference call is set for August 5, 2020, at 7:30 a.m. CT to discuss the results. Investors can access the live broadcast on the company's website, with replays available for 90 days. Additionally, Delek US Holdings (NYSE: DK) will hold its second quarter earnings call at 8:30 a.m. CT on the same day, which may also provide insights relevant to Delek Logistics. The partnership focuses on midstream energy infrastructure.
Delek Logistics Partners reported a net income of $27.8 million for Q1 2020, marking a 41% increase year-over-year. EBITDA surged by 23.5% to $48.7 million, driven by contributions from various assets despite lower gross margins in West Texas. The company declared a distribution of $0.890 per unit, an 8.5% increase from Q1 2019, reiterating a 5% distribution growth target for the year. Capital spending has been reduced from $22.7 million to $17.6 million, enhancing financial flexibility.